What is Mudra Loan? How to get instant loan of Rs 5 lakh Now mskearnings.com

What is Mudra Loan? How to get instant loan of Rs 5 lakh Now?

Pradhanmatri Mudra Yojana

Hello friends, as soon as a bank loan comes to the mind of a middle class person of our country, then he gets a little scared. Because we all know about the loan system of Indian banks and their annual interest rate. But if we look at the government scheme after investigating all the ways and a little, then we will find many such ways by which we can take loans without paying interest. One such method is new Pradhanmantri which is known as Mudra loan.

If you are thinking that, do we not have any alternative and best way to do this? Ha! In our very way in which we can apply for loan, we will get loan from work to work interest. One of the popular ways is Mudra Loan and here we are going to know in detail about Mudra loan scheme .

What is Mudra Loan?

There are many such schemes in the Indian government or any private sector, in which common people can get a lot of information. But since the time the Internet has started using people, every scheme has become common.

Mudra जिसका Full Form है “Micro Units Development and Refinance Agency” 

If we start any Startup then no one is ready to give any funding to us and no one wants to give bank loan. In such a situation, many small businesses fail only because of funding .

Due to which the situation is such that very few startups in India are able to go ahead. Every year such updates go to the Indian government that 500 or 1000 startups were closed due to non-availability of bank loans. We all know that if business will increase in the country, then productivity will increase and people will get employment together.

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With this increasing business, the government also benefits in the form of tax, the solution to this problem of such people, the government had to come out somehow and soon by launching Indian Government Mudra Loan Yojana, a new way has been opened for the small business owner. .

Under Mudra loan Yoajana , any person can take an instant loan of up to Rs 10 lakh to grow the business or start a business and for this he will not have to go to the bank nor roam in front of Inversters for funding. Will have.

Who can take advantage of this Mudra Loan ?

Till now more than Rs 228146 crore has been given under this scheme. To promote business, the biggest benefit of applying Mudra loan online is that,

  • In this, we get a loan without any guarantee, as if we apply for a loan from the bank, then they need many documents as a guarantee, whereas there is nothing like this in this scheme.
  • With this, for loan approval, we have to pay some rupees as processing charge and if we get loan from Mudra Yojana, then not a single rupee will be charged from us as processing charge.
  • The objective of this scheme is to empower women and its main focus is women only, in all the loans that have been distributed so far, there are 3 women per four people.

Who can take advantage of Mudra Loan Yojana?

As I mentioned above that this scheme is for such a person who is doing any small or medium business or wants to start his business. Whoever is such a person can take a security loan up to Rs 10 lakh under this scheme.

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This plan is divided into three main parts,

  1. Shishu Loan: This is the most basic Mudra loan scheme and in this we can get a loan of up to Rs 50,000 under the Prime Minister Loan Scheme.
  2. Kishor Loan: In this we can get loan from Rs.50,000 to Rs.5,0000000.
  3. Tarun Loan: If we apply for this scheme then we can get loan ranging from Rs.5,00000 to Rs.10,0000000.

How can You take loan?

There are some schemes which look very good to us, but if we take them without understanding, then we often end up in losses too.

Whatever we have known about Mudra loan scheme till now is all true and if we apply for it then we will get loan in a much better way than bank loan. But there are some conditions of this scheme, about which it is very important for all of us to know.

To apply for Mudra loan scheme , then we have to apply for it at any bank branch and for this application we should have some such documents.

  • If you are applying to start your own business, then the house in which your business will start will need its ownership certificate or if there is a rent house then its rent agreement will be required.
  • PAN Card and Aadhaar Card will be required.
  • Whatever business you are starting, complete information about it and also a report of any project will be needed.
  • Business Registration Certificate will be required.

These are the main documents that you should have, with this you may need many more documents and certificates, one more important thing with this.

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There is no fixed interest rate in Mudra loan scheme and it varies according to the bank, if Economic Times is to be believed then its normal interest will be 12%.

If we are satisfied with all these conditions then we can apply for Mudra loan Yojana from these four types of banks.

  • Scheduled commercial banks
  • Reginal Rural Banks
  • Scheduled Urban Co-operative banks
  • Micro Financial Institutions Viz. Trust etc.
Mudra loan process

We have to first  go to https://www.mudra.org.in/Home/PMMYBankersKit website and download this form for whatever kind of loan you want to apply. Like Kishor Loan Scheme Form .

After downloading the form, we have to go to the bank branch with all the documents and from there we can apply for it.

Friends , Mudra Loan Scheme is better if you want a loan without wasting time, and according to the news update, the time to repay its loan is also going to increase by 5 years. But whenever you apply for it, first understand about all its conditions and then apply, if you have any question, then you must comment.

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